Wednesday, 18 December 2013

QLD Eagle Downs Activity again with Mining in Australia.

QLD Eagle Downs Activity again with Mining in Australia.

Aquila awards $143m contract to WDS

December 11, 2013 6:34PM   

          Aquila awards key Eagle Downs contract

AQUILA Resources hopes the award of a major new contract at its Eagle Downs coking coal joint venture with Brazilian mining giant Vale will help to finally put to rest market concerns about Vale's commitment to the development.

Yesterday Aquila announced that it and Vale had awarded a contract worth $142.8 million to mining services group WDS for the construction of two "drifts", or tunnels, at the project.

In recent weeks Vale has detailed plans to cut spending next year and sell off a 15 per cent to 25 per cent stake in its coal operations, sparking fears it may slow work at Eagle Downs.

Coal prices have dived in recent years, sparking a wave of mine closures, including Peabody Coal's Wilkie Creek mine earlier this week.

But Aquila general manager of finance and corporate Martin Alciaturi told The Australian that the award of the drifts contract, coupled with recent comments by Vale during investor briefings in New York and London, suggested Eagle Downs would continue to progress despite the market conditions.

Vale's briefing materials estimated that Eagle Downs would rank among the lowest quartile for coking coal production costs worldwide, with the project described as "a pillar to grow a quality business in Australia".

"There has been a question mark in some people's minds about whether Vale were committed to this project, and I think this contract in particular, together with the comments they made last week, is clear evidence that they're going to come along with us and get it done," Mr Alciaturi said.

Recent closures in the coal industry had freed up capacity among mining contractors at a useful time for Aquila and Vale, he said, and would set the scene for better coal prices once Eagle Downs came into production.

"A lot of projects have been deferred now. It means you can build something in a more competitive cost environment, and it also means once you come out the other end there's a lot more other mines that won't be in production," he said.

"So it means in two to three years you might have better than average coal prices."
Shares in Aquila closed down 5c to $2.15 a share, while WDS gained 6.5c to 86.5c yesterday.
  • December 12, 2013 12:00AM
News on eagle website Located in Queensland’s thriving Bowen Basin 20km from Moranbah, the project is in the final stages of its business case.

Advancing with Eagle Downs Coal

Eagle Downs Coal invites you to assist in the establishment of an outstanding and sustainable mine with the potential to produce up to eight million tonnes of coking coal annually. Located in Queensland’s thriving Bowen Basin 20km from Moranbah, the project is in the final stages of its business case. Right now, we are seeking experienced mining professionals, initially based in Brisbane, to join our operations and construction management teams. Don’t miss this opportunity to advance your career!
Join Eagle Downs Coal and you’ll be joining an employer with solid corporate values that include Integrity, Safety, Excellence, Adaptability, Accountability and Teamwork. In fact, through our mission statement we commit to…create value for our customers, community and stakeholders through the safe and efficient delivery of the highest quality coal.
We also commit to creating value for our employees. You will personally benefit from working for an employer who values and respects your skills, contributions and provides you with opportunities to advance your career.
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Current Employment Opportunities

We are currently undergoing construction of our underground mine, and as such we are not currently recruiting any operator/trade roles. A contractor workforce has been engaged for all construction works. Recruitment for our operational workforce is expected to commence in 2016.
Project roles we are currently recruiting for include the following:    

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